| Q: What is Consumer Loan Services (CLS)? |
| |
A: CLS is a full service mortgage lender dedicated to providing credit unions real estate financing support for residential mortgages. |
| Q: How is CLS different from other mortgage lenders? |
| |
A: CLS is not a lender. We are a service company formed to support your credit union. CLS is dedicated to the credit union community with credit union people who specialize in real estate transactions. |
| Q: What makes CLS my choice for real estate financial services for my credit union? |
| |
A: CLS is an independent mortgage company that gives your credit union, regardless of asset size, its own mortgage department. Through our transparent process and technology, your credit union can employ the product advantage and pricing of today's largest real estate providers. More importantly, your credit union remains the provider of mortgage services to your member. Since we are credit union people, your members remain in the credit union community for service. |
| Q: What type of marketing material is available? |
| |
A: CLS can help you create and customize statement stuffers, lobby posters, postcards, and home buying seminars. CLS will help you create any materials you want to market your program. |
| Q: We have a full mortgage staff. How can we utilize CLS without affecting my internal staff? |
| |
A: CLS can enhance your credit union's current mortgage programs, member service levels and aid in multi-state lending and servicing. Please inquire on how we can help you grow your operation to serve your member's needs. |
| Q: Who funds the loan? |
| |
A: The loan is funded by the credit union. Your credit union always maintains the servicing recognition through CLS on secondary market loans. We can also service some sub-prime loans in your credit union’s name. |
| Q: How can I provide competitive rates and products through CLS? |
| |
A: CLS is a direct secondary market approved seller/servicer (i.e., Fannie Mae). Through CLS, credit unions can sell loans on the secondary market as easily as portfolio transactions. We have a complete, competitive menu of real estate products that enables the credit union to offer a diverse mortgage selection. |
| Q: What about sub-prime or non-conforming lending? |
| |
A: CLS has investors to meet all of your member’s mortgage needs. We are able to help you originate mortgages that have been denied on the secondary market through a wide array of sub-prime lenders. |
| Q: How do we get started? |
| |
A: Simply call CLS today for an informative package and to learn more about this unique service available to credit unions. We offer convenient, on-site presentations. Contact CLS by calling 877-791-1257. |
